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Oct 5, 2013
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ceiling, you'll run a clean debt ceiling bill. but can you be clear on where you and your conference is on the debt ceiling. >> you heard me saying this, going back over the last two or three years. our goal wasn't to shut down the government. our goal here was to bring fair tons the american people under obama care. i don't believe that we should default on our debt. it's not good for our country. but after 55 years of spending more than what you bring in, something ought to be addressed. this year, we'll have more revenue than any year in the history of our country and yet still have a nearly $700 billion deficit. i think the american people expect if we're going raise the amount of money we can borrow, we ought to do something about our spending problem in the lack of economic growth in our country. >> is this shutdown -- this showdown about the affordable care act? is it about the budget deficit? why is the government shut down right now? saying the 11th hour, when the >> we sent four billes to the united states senate. four d
ceiling, you'll run a clean debt ceiling bill. but can you be clear on where you and your conference is on the debt ceiling. >> you heard me saying this, going back over the last two or three years. our goal wasn't to shut down the government. our goal here was to bring fair tons the american people under obama care. i don't believe that we should default on our debt. it's not good for our country. but after 55 years of spending more than what you bring in, something ought to be...
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Jan 14, 2013
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on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at all about extending the bush tax cuts. what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. now, you can argue that during the campaign i said -- i set the criteria for wealthy at 250 and we ended up being at 400, but the fact of the matter is, millionaires, billionaires are paying significantly more in taxes, just as i said. so from the start, my concern was making sure that we had a tax code that was fair and that protected the middle class, and my biggest priority was making sure the middle class
on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at...
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Oct 6, 2013
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please raise the debt ceiling. no conditions. just raise the debt ceiling. congressional republicans say, we will raise it but with conditions, anywhere from ending the affordable care act to privatizing social security to ending other federal programs. what we now have is this huge convergence of two issues, kris, first disagreement on what to do about the budget and the second, what to do with that. >> thank you, larry, for coming in. still ahead on "today in the bay," we'll tell you why hundreds of people took the plunge in the san francisco bay. >>> welcome back. it is going to be another warm day across the bay area. kind of like what we saw yesterday. places that got back into the 80s will be there. even bayside, mid-80s. inland, close to 90 degrees. we want to make sure you take it easy. right now, very comfortable. fall, crisp air in place. 44, santa rosa. 48, napa, gilroy, 43 degrees. our winds are offshore for today. that's a warming wind. that's what's going to warm us up very quickly for this afternoon. in the long-term, we are tracking a few sho
please raise the debt ceiling. no conditions. just raise the debt ceiling. congressional republicans say, we will raise it but with conditions, anywhere from ending the affordable care act to privatizing social security to ending other federal programs. what we now have is this huge convergence of two issues, kris, first disagreement on what to do about the budget and the second, what to do with that. >> thank you, larry, for coming in. still ahead on "today in the bay," we'll...
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Oct 10, 2013
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meantime, house republican leaders they will visit the white house to talk about the debt ceiling and possible extension on that. to figure things out. ment obama had invited the full republican caucus but john boehner is only bringing the house leadership team and committee chair to talk about the government shutdown. president obama met with the house democratic caucus yesterday. >> the government shutdown is also hurting the bay area's local craft beer industry. the agency known as ttb for tax and trade bureau is responsible for approving new applications for brews and labels. because the agency is closed nothing is getting approved. for beer lovers that means seasonal suds especially ones made for the holidays probably won't make to the store shelves. >> we live in california so we kind of don't have a season so we need those, the pumpkin spice indicator so to speak. that will be a shame we can't try new things. >> among the companies affected border beer. several new labels are waiting for permits all on hold because of the shutdown. >> the markets continue to fluctuate as washin
meantime, house republican leaders they will visit the white house to talk about the debt ceiling and possible extension on that. to figure things out. ment obama had invited the full republican caucus but john boehner is only bringing the house leadership team and committee chair to talk about the government shutdown. president obama met with the house democratic caucus yesterday. >> the government shutdown is also hurting the bay area's local craft beer industry. the agency known as ttb...
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Aug 27, 2013
08/13
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to remind you, the debt ceiling covers repayment of debt we already have. congress fussing about not raising the debt/z+ ceiling. remember congress set the budget. so as we wade through the politics, and there's a lot of politics, keep in mind those truths. finally, jon and laura, brand new this morning, facebook issued a report saying governments from 74 countries have asked for information on 38,000 facebook users in the past six months. half those requests coming from the u.s. government. facebook joining google and twitter in revealing as much as it can about demands for data, which is not very much. they wish they could talk about it more. >> interesting. thanks, scott. >>> 6:57, let's clerk back in with christina loren. you have an update on the fire in yosemite. >> we just got the most recent acreage, unfortunately it's not great news. still just 20% contained. now the acreage is up to 179,481 acres up from the 160,000 acres that we reported overnight. so what we can tell you is there's a potential for pretty good showers to move over that fire today
to remind you, the debt ceiling covers repayment of debt we already have. congress fussing about not raising the debt/z+ ceiling. remember congress set the budget. so as we wade through the politics, and there's a lot of politics, keep in mind those truths. finally, jon and laura, brand new this morning, facebook issued a report saying governments from 74 countries have asked for information on 38,000 facebook users in the past six months. half those requests coming from the u.s. government....
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Oct 10, 2013
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in the meantime, house republican leaders will visit the white house today to talk about the debt ceiling. president obama had invited the full republican caucus but speaker john boehner is only bringing the house leadership team and committee chairs to talk about the government shutdown. president obama met with the house democratic k iic caucus. >> the shutdown is hurting the craft beer industry. the agency known as the tax and trade bureau now responsible for approving new applications for brews and labels. because the agency is closed, nothing is getting approved. for beer lovers, that means seasonal suds especially ones made for the holidays, probably will not make to the your shelves. >> we live in california so we kind of don't have seasons so we need those, the pumpkin spice indicator so to speak. that will be a shame that we can't sample new things. >> got serious need for ingredients for the brew. among the companies affected, gordon beers here in san jose, it has several new beer labels waiting for permits and they are all on hold because of the ongoing shutdown. >> it's 5:45.
in the meantime, house republican leaders will visit the white house today to talk about the debt ceiling. president obama had invited the full republican caucus but speaker john boehner is only bringing the house leadership team and committee chairs to talk about the government shutdown. president obama met with the house democratic k iic caucus. >> the shutdown is hurting the craft beer industry. the agency known as the tax and trade bureau now responsible for approving new applications...
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Oct 4, 2013
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debt ceiling. a long shutdown and potential debt default could have a greater impact on the economy. the treasury department warns that the default could plunge the u.s. in a worse recession than the one from 2007-2009. there is no economic data today. we were expecting the monthly jobs report but that's been postponed indefinitely because of the government shutdown. the dow dropping 137 to 14,996. the nasdaq losing 41 to 3774. and twitter takes the wraps off the details of its anticipated ipo, social media site looks to raise $1 billion and will use the symbol twtr though it won't say whether it will trade on the nysd or the nasdaq. it has 218 million monthly users and gets the bulk of ad revenue from mobile devices. twitter is still in the red. facebook is introducing ads to instagram. the photo and video sharing site it bauxt users will see ads occasionally and be able to hide ads after they watch them and provide feedback on why they didn't like a particular ad. but everybody loves ads so i'm s
debt ceiling. a long shutdown and potential debt default could have a greater impact on the economy. the treasury department warns that the default could plunge the u.s. in a worse recession than the one from 2007-2009. there is no economic data today. we were expecting the monthly jobs report but that's been postponed indefinitely because of the government shutdown. the dow dropping 137 to 14,996. the nasdaq losing 41 to 3774. and twitter takes the wraps off the details of its anticipated ipo,...
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Jan 22, 2013
01/13
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a vote coming up about the debt ceiling. in other words, they want to raise the debt cerealing ingce. they say that democrats are going to have to in the senate pass a budget or they won't get paid. it's part of the vote coming up. senate democrats being pressured to deal with the budget in a comprehensive way and not two months at a time although this measure they are voting on for the debt ceiling raising the debt ceiling would really only last until spring. still sort of a piecemeal approach while both sides say they want to do more comprehensive approach similar to what the president laid out but haven't worked out details. >> we'll find out if pressuring their pocketbooks will help out here. the question for you here, why is the vote set for tomorrow and what group do you see most under pressure? >> reporter: they need to deal with this quickly. the treasury department said unless we borrow more money come mid february we won't be able to pay bills. the house has to vote on it. senate has to vote on it. work out kinks a
a vote coming up about the debt ceiling. in other words, they want to raise the debt cerealing ingce. they say that democrats are going to have to in the senate pass a budget or they won't get paid. it's part of the vote coming up. senate democrats being pressured to deal with the budget in a comprehensive way and not two months at a time although this measure they are voting on for the debt ceiling raising the debt ceiling would really only last until spring. still sort of a piecemeal approach...
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Sep 26, 2013
09/13
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wourryes over the debt ceiling have invest terse worried. seema. >> good morning. stocks falling for a fifth day, the s&p 500 the longest losing streak of the year. investors continue to worry about the fight over the budget and debt ceiling in washington. that overshadowing some of the positive news. we get reports out on unemployment, housing and the final look at second quarter gdp which may show that the economy grew more than thought. the dow falling 61 points. twitter striking an advertising deal with the national football league league. nfl will pack its content in sponsored tweets. verizon has exclusive ad rights during the super bowl. its appeal to viewer who is use a service to beat the what they are watching. starbucks filing for a trademark on fizio. the name would be for beverage machines and a variety of drinks. it's testing three flavors. it's giving customers the option to make other drinks fizzy including get this, iced tea and iced coffee. not sure how i feel. >> fizzy iced tea a. fizzy arnold palmer. thanks so much. >> need a good sweater this mo
wourryes over the debt ceiling have invest terse worried. seema. >> good morning. stocks falling for a fifth day, the s&p 500 the longest losing streak of the year. investors continue to worry about the fight over the budget and debt ceiling in washington. that overshadowing some of the positive news. we get reports out on unemployment, housing and the final look at second quarter gdp which may show that the economy grew more than thought. the dow falling 61 points. twitter striking...
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Jan 4, 2013
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in the senate, republicans vow not to raise the debt ceiling again unless congress cuts spending. >> the first step in this debate is for democrats to get over their fanatical commitment of spending every dime the government got its hands on. it has to stop. >> a future budget agreement must balance thoughtful spending reductions with taxes on the wealthiest among us. >> reporter: it is expected to hit its borrowing limit again in february, another fiscal cliff, round two, begins today. also on their agenda overhauling the tax code. tracie potts, nbc news, washington. >>> futures are down slightly ahead of big economic numbers due out today. toyota and audi want to let your car doing the driving for you. for more on that and the rest of your news before the bell, we turn to brian shactman live at cnbc world headquarters. good morning. >> reporter: good morning. futures have improved a bit. basically flat ahead of the big economic report of the day, the december jobs number. analysts expect another month of slow but steady growth but not enough to call it a turning point for the econo
in the senate, republicans vow not to raise the debt ceiling again unless congress cuts spending. >> the first step in this debate is for democrats to get over their fanatical commitment of spending every dime the government got its hands on. it has to stop. >> a future budget agreement must balance thoughtful spending reductions with taxes on the wealthiest among us. >> reporter: it is expected to hit its borrowing limit again in february, another fiscal cliff, round two,...
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Jan 7, 2013
01/13
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the debt ceiling vote will authorize payment of debt we already incurred. let me show you an example of someone talking about the debt ceiling and getting it wrong. >> the president is addicted to spending. he wants to spend. he wants a new credit card after he's maxed out the last one. >> reporter: a better analogy is we maxed out the credit card we have and now we have to pay the bill. paying the bill is very important to the credit rating of the united states. >> just like we all have to do. >> yeah, right. we'll keep an eye on that one, scott. thank you for breaking it down. >>> meteorologist christina loren talking 60s today for this back to work monday. >> we'll get paid with sunshine this afternoon. good monday morning to you. temperatures this morning running cool. we have patchy fog out there to make you aware of. quarter mile or less in spots. quarter mile in livermore. half a mile in santa rosa. the good news is we'll lose that low cloud cover by noon today. 48 degrees as you break for lunch inland. you'll need your jacket at that point. hour by
the debt ceiling vote will authorize payment of debt we already incurred. let me show you an example of someone talking about the debt ceiling and getting it wrong. >> the president is addicted to spending. he wants to spend. he wants a new credit card after he's maxed out the last one. >> reporter: a better analogy is we maxed out the credit card we have and now we have to pay the bill. paying the bill is very important to the credit rating of the united states. >> just like...
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Jan 23, 2013
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first of all, raising the debt ceiling. allowing the country to borrow more to pay off the debt that we have already incurred. something president obama was pushing more. conservative republicans wanted to see cuts first. now the republican leadership said we won't link the two. we'll raise the debt ceiling until the middle of may. however there is a catch. they want to ensure that a budget is in place. a spending plan for the country. so the vote also says if lawmakers on either said don't pass a budget by april 15 -- tax day for everyone else -- they would lose their income. no paychecks until they have a budget. that's where we are now. that's the crux of the vote coming up today. the white house says the president will sign the bill if it's passed. republican ps have been counting their votes. despite opposition still from conservatives who want to see spending cuts happen first. they believe they have the votes for it to pass. 17 conservatives could derail that. >> we'll see if there is movement. thank you very much. >
first of all, raising the debt ceiling. allowing the country to borrow more to pay off the debt that we have already incurred. something president obama was pushing more. conservative republicans wanted to see cuts first. now the republican leadership said we won't link the two. we'll raise the debt ceiling until the middle of may. however there is a catch. they want to ensure that a budget is in place. a spending plan for the country. so the vote also says if lawmakers on either said don't...
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Jan 14, 2013
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we hit that debt ceiling and now it's about the debt limit. >> we hit it in technically in december but in order to keep paying the bills the government delayed some payments so it looks like we'll hit that ceiling or that limit again in mid february. congress has got to do something about that. the house is back today. republicans are going to push for spending cuts. remember their mantra has been no more borrowing without limiting what we're spending and among spending cuts they are likely to look at social security this time. >> there's also some trouble on capitol hill ahead of chuck hagel's confirmation hearing. >> the confirmation hearings we have coming up at least three of them. chuck hagel could be the most difficult because democrats and republicans here have some challenges and lots of questions for him. still they say about the stance on iran and things he said about iraq and israel and whether he stands close enough with israel as ally. the white house is confident he'll be confirmed. it's not going to be an easy process. >> one month since the school shooting at sandy hook
we hit that debt ceiling and now it's about the debt limit. >> we hit it in technically in december but in order to keep paying the bills the government delayed some payments so it looks like we'll hit that ceiling or that limit again in mid february. congress has got to do something about that. the house is back today. republicans are going to push for spending cuts. remember their mantra has been no more borrowing without limiting what we're spending and among spending cuts they are...
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Aug 27, 2013
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congress is fussing about not raising the debt ceiling. remember congress is the one who set the budget in the first place. as we wade through all the politics of this, and there will be a lot, keep those truths in mind. wall street hates fights over the debt ceiling because it makes the u.s. look foolish and even the discussion of the u.s. government not paying its bills, defaulting on u.s. debt, can make interest rates rise. the next time you want to refinance, don't be surprised if your interest rate goes up. creditors don't want to hear that. wall street is worried about that, worried about the situation in syria. money fleeing stocks. speculators are bidding up the price of oil as well. gas prices have been surprisingly low lately. that could come an end if there's american military action in syria. syria doesn't have much oil, less than australia. unrest in the middle east never good for oil prices. >> thank you very much. switching gears, something a little more fun this morning. 5:56. looking to cash in on the wings, the big craze,
congress is fussing about not raising the debt ceiling. remember congress is the one who set the budget in the first place. as we wade through all the politics of this, and there will be a lot, keep those truths in mind. wall street hates fights over the debt ceiling because it makes the u.s. look foolish and even the discussion of the u.s. government not paying its bills, defaulting on u.s. debt, can make interest rates rise. the next time you want to refinance, don't be surprised if your...
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Mar 16, 2013
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made this debt ceiling fight the quake child's play. rubin had to be creative as to where he was breaking a lot of buying time on the debt ceiling. there is brinksmanship all the time and the lesson to learn from not insist that it's really hard. the same issues that are tangential issues. the server to the heart and minds of americans over the country and issues lawmakers and for election on taxes and spending, government programs and so we can expect them to walk away from their principles and beliefs because they want to get a deal. a >> host: the bottom line is president clinton and house republicans stood before the balanced budget the last three or four years. >> host: into the bush administration. >> guest: that's right. and like i said, some of it had to do with the roaring economy. they definitely made changes to the welfare program and other spending programs in a way that eliminated the deficit, which was something in u.s. history was incredibly hard to do. >> host: jacob is very intelligent. the 12-year-olds don't speak that
made this debt ceiling fight the quake child's play. rubin had to be creative as to where he was breaking a lot of buying time on the debt ceiling. there is brinksmanship all the time and the lesson to learn from not insist that it's really hard. the same issues that are tangential issues. the server to the heart and minds of americans over the country and issues lawmakers and for election on taxes and spending, government programs and so we can expect them to walk away from their principles...
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Sep 27, 2013
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it's the debt ceiling that's way more worrisome. neither budging on that. if the government defaults on its debt, something it hasn't done since president george washington was in charge, it could cause enormous economic problems or at least we think it will because it hasn't happened before. we don't know. it's happened, say, in ecuador. think about how worried we got about portugal or italy or greece. if greece defaulting makes wall street crazy how about the united states. that's part of what's driven the markets lower. thursday we did see a slight wind. it's google's birthday for the second time this m. all kinds of ways to measure. september 27th it has this doodle. a google doodle for itself. you get to play with a pinata and it's fun. it's on google this morning. there are other things changing on google. particularly they tweaked their search engine. this will matter if you have a website. it could affect your traffic to your site. if you are a google user, there are some new features like a comparison engine. type in butter versus margarine and you
it's the debt ceiling that's way more worrisome. neither budging on that. if the government defaults on its debt, something it hasn't done since president george washington was in charge, it could cause enormous economic problems or at least we think it will because it hasn't happened before. we don't know. it's happened, say, in ecuador. think about how worried we got about portugal or italy or greece. if greece defaulting makes wall street crazy how about the united states. that's part of...
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Jan 16, 2013
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ceiling. treasury said the move would give it $156 billion in additional spending capacity and insist that retirees will receive benefits. in a letter to john boehner, treasury secretary tim geithner said the step has been taken before during previous impasses over the debt limit. several republican lawmakers are set to direct treasury to prioritize which bills to pay if congress doesn't raise the debt ceiling. let's get you a check on the markets. futures are lower as we get big earnings this morning from jp morgan and goldman sachs. we have jpmorgan lower whereas goldman sachs is higher. stocks advanced yesterday with the dow extending the winning streak to five days and the s&p 500 hitting a five-year high. we get data out on consumer prices, industrial production and housing. watch out for that. back to you. >> seema, thank you very much. it's 5:17. as you know, facebook yesterday announced the new search. we'll look at what it can do in a bit. >> we look forward to that, thanks. >> 5:17 n
ceiling. treasury said the move would give it $156 billion in additional spending capacity and insist that retirees will receive benefits. in a letter to john boehner, treasury secretary tim geithner said the step has been taken before during previous impasses over the debt limit. several republican lawmakers are set to direct treasury to prioritize which bills to pay if congress doesn't raise the debt ceiling. let's get you a check on the markets. futures are lower as we get big earnings this...
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Jan 1, 2013
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the big battle is yet to come and it's over the debt ceiling. it's going to be a big battle, and i share every comment and every sentiment that senator graham said because that's the one where we have to find a way to make a deal. and the president is not going to make a deal by poking us in the eye and by charging one side against the other to try to have a win-win proposition. i never made a deal if it wasn't a win-win proposition. i always lost a deal when i made it a win-lose proposition. i'm at the table. i continue to negotiate. i want to make this one work, but let's work together, let's find common ground, and in the 12th hour and the 11th hour, let's do what's right for the american people. but i want to thank senator graham, senator corker and senator mccain for their remarks. i associate myself with them. senator mccain, i yield back to you. i yield to the senator from tennessee. mr. mccain: i yield. the presiding officer: the senator from tennessee. mr. corker: i thank the senator from arizona, south carolina and georgia for the comm
the big battle is yet to come and it's over the debt ceiling. it's going to be a big battle, and i share every comment and every sentiment that senator graham said because that's the one where we have to find a way to make a deal. and the president is not going to make a deal by poking us in the eye and by charging one side against the other to try to have a win-win proposition. i never made a deal if it wasn't a win-win proposition. i always lost a deal when i made it a win-lose proposition....
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Sep 20, 2013
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thee do not raise this -- debt ceiling, we are deadbeats. if we fail to increase the debt limit, we would send our economy into a tailspin. way.is a quote by the do you know who said it? the republican speaker of the house, john boehner. he has said if we do not pay our bills, we will have an economic tailspin. why has it not been done? democrats and some reasonable republicans in congress are willing to raise the debt ceiling and pass a sensible budget. i want to work with democrats and republicans to do just that. claire mccaskill is ready to do it. [applause] cleaver is ready to do it. [applause] just passed the budget and raise the debt ceiling, we can get back to focusing on growing oureconomy and educating kids, all of the things we have to do. unfortunately, there is a faction on the far right of the republican party who convinced their leadership to threaten a government shutdown and potentially threaten to not raise the debt ceiling if they cannot shut off the affordable care ought -- affordable care act also known as obamacare. the
thee do not raise this -- debt ceiling, we are deadbeats. if we fail to increase the debt limit, we would send our economy into a tailspin. way.is a quote by the do you know who said it? the republican speaker of the house, john boehner. he has said if we do not pay our bills, we will have an economic tailspin. why has it not been done? democrats and some reasonable republicans in congress are willing to raise the debt ceiling and pass a sensible budget. i want to work with democrats and...
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Jan 23, 2013
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. >>> the house voted to delay a debate over the debt ceiling. chief capitol hill correspondent kelly o'donnell has more. good morning. >> reporter: good morning, natalie. this is to avoid those showdowns we've seen the past two years. it would give the government more time to borrow. while democrats would like a longer term solution, the white house says it would go along. >> most americans believe you don't do your job, you shouldn't get paid. >> reporter: today's vote is a tactical shift in the gop playbook, putting on hold their demand for a debt ceiling increase only with spending cuts attached. >> it's a concession by republicans that they were not going to be able to win a spending cut fight using the debt ceiling vote. >> reporter: the clock is ticking. the country will max out its credit card at $16.4 trillion in several weeks, risking possible default on the nation's debt unless congress okay's more borrowing. the house is considering a short-term fix. lift the debt ceiling for a few months to take the pressure off, but require both hou
. >>> the house voted to delay a debate over the debt ceiling. chief capitol hill correspondent kelly o'donnell has more. good morning. >> reporter: good morning, natalie. this is to avoid those showdowns we've seen the past two years. it would give the government more time to borrow. while democrats would like a longer term solution, the white house says it would go along. >> most americans believe you don't do your job, you shouldn't get paid. >> reporter: today's...
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Jun 4, 2013
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i look act to the whole debt ceiling debacle -- i look back to the whole debt ceiling debacle. it fell apart. i can't remember what grand bargain was. it fell apart. barack obama goes and gives a statement and john boehner is a statement. both of them are very clearly work out. you rarely see emotions at that level politics. they are good at not making clear how angry they are. that is one of those things that they get better at. they are good at masking emotion. asked that especially of -- >> but especially obama. he was generally annoyed and that gives 25 -- that gives way to frustration. then he took a different and more successful electoral path, i think. towas no longer willing reach out. his reelection rates are coming up and there were a lot of other factors. but he turned into a much more successful politician from that point on because i think he listened to what ron and what other folks in the administration were saying, which is that you think the republicans are waiting to find something that they want to work with you on and they are not. fact from people in the ad
i look act to the whole debt ceiling debacle -- i look back to the whole debt ceiling debacle. it fell apart. i can't remember what grand bargain was. it fell apart. barack obama goes and gives a statement and john boehner is a statement. both of them are very clearly work out. you rarely see emotions at that level politics. they are good at not making clear how angry they are. that is one of those things that they get better at. they are good at masking emotion. asked that especially of --...
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i have said many times, i would oppose the budget control act which will raise the debt ceiling. in part, because the way the question provisions were written. they were unbalanced. 50% of our cuts come from the defense. it just cut everything by the same amount as opposed to give our military leaders the pentagon to cut from unsuccessful and outdated programs and put more money into the most successful and important programs. with that said, the only thing worse than the defense cuts and sequestration is no cuts at all. if we don't have the sequestration cuts at the top line revenue level went we will increase the debt ceiling with almost nothing to show for it. part of the reasons why the house republicans this week, extended the debt cerealing for three months to feel out paul ryan and his team to draft a budget that gets us balanced in 10 years but also protects the department of defense from further cuts because they have already been cut by $500 billion. >> do you get the idea, do you get the sense that americans are tired of world business. that doing some business here at
i have said many times, i would oppose the budget control act which will raise the debt ceiling. in part, because the way the question provisions were written. they were unbalanced. 50% of our cuts come from the defense. it just cut everything by the same amount as opposed to give our military leaders the pentagon to cut from unsuccessful and outdated programs and put more money into the most successful and important programs. with that said, the only thing worse than the defense cuts and...
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passage of the budget control ct allowed the debt ceiling to rise so we could honor our commitments and avoid a catastrophic default that would returned us to a recession or worse. imposed a requirement that over $1 reduction deficit through automatic take -the-boards cuts place unless we reached a cuts.omise to avoid those those cuts were so deep, so of us nal, that most assumed that we would reach a avoid them.o but we did not. those cuts, known as were triggered , where fiscal year 2013 we are right now. hey have halted those cuts, training for one-third of the air force's fighter and bomber squadrons. he navy's deferred depot maintenance on ships that were planned for this year. he army has canceled rotations to its national training centers. ach service has had to reduce maintenance programs to restore equipment after more than a of harsh and constant and have to cut modernization programs. while some in congress regard of these cuts as savings, i don't. repairing the damage will only grow more costly in the years to kocom come. after so much recent evidence of total force, he acti
passage of the budget control ct allowed the debt ceiling to rise so we could honor our commitments and avoid a catastrophic default that would returned us to a recession or worse. imposed a requirement that over $1 reduction deficit through automatic take -the-boards cuts place unless we reached a cuts.omise to avoid those those cuts were so deep, so of us nal, that most assumed that we would reach a avoid them.o but we did not. those cuts, known as were triggered , where fiscal year 2013 we...